The fundraiser, reportedly costing between $25,000 and $75,000 a ticket, would have also featured the GOP candidate, who is visiting Britain for the opening ceremonies at the London Olympics. A Romney spokesperson said that they respected Diamond’s decision “to focus all his attention on Barclays.”

Diamond, one of the highest-paid executives in Britain, resigned Tuesday under political pressure and pressure from shareholders. His multinational banking company is also paying a $453 million settlement after regulators discovered traders tried to secretly adjust a key inter-bank lending rate to hide funding difficulties and pad the pockets of certain traders.

Video by Dallas Jensen.

Ben Johnson is the producer of Marketplace Tech from American Public Media.